Gov­ern­ment to pass ben­e­fits from re­cov­ery on to tax­pay­ers

Financial Mirror (Cyprus) - - FRONT PAGE -

Fi­nance Min­is­ter Har­ris Ge­or­giades said that the gov­ern­ment will pass on to tax­pay­ers any ben­e­fits de­riv­ing from the re­cov­ery of the econ­omy, while main­tain­ing at the same time a re­spon­si­ble fis­cal pol­icy.

Speak­ing af­ter a meet­ing with a rul­ing party DISY del­e­ga­tion headed by leader Averof Ne­o­fy­tou, Ge­or­giades said that gov­ern­ment poli­cies are now bear­ing fruit and re­called sta­tis­ti­cal data ac­cord­ing to which the Cypriot econ­omy has had the fastest growth rate in the Euro­zone dur­ing the first quar­ter of this year and the third high­est in the EU.

The Min­is­ter also said that a spe­cial con­tri­bu­tion i mposed on the salaries of pub­lic ser­vants and pri­vate sec­tor em­ploy­ees since 2011 will now be abol­ished.

“If we con­tinue on this steady course, this is our in­ten­tion”, he said, adding that the Min­istry of Fi­nance “will be in a po­si­tion to pro­pose more re­lief mea­sures so that cit­i­zens, em­ploy­ees, tax­pay­ers will be able to ex­pe­ri­ence more fully the eco­nomic re­cov­ery.”

Re­ply­ing to crit­i­cism that the gov­ern­ment has been an­nounc­ing mea­sures ahead of the par­lia­men­tary elec­tions on Sun­day, Ge­or­giades pointed out that in the past when­ever elec­tions loomed thou­sands were hired in the pub­lic ser­vice in­creas­ing ex­ist­ing deficits which the tax­payer had to pay af­ter the elec­tions.

This is why, he said, the gov­ern­ment fol­lows a pol­icy of grad­ual re­lief mea­sures on based on the econ­omy’s ca­pa­bil­i­ties.

Re­ply­ing to a ques­tion on un­em­ploy­ment, the Min­is­ter said that es­tab­lish­ing growth will in turn lead to the cre­ation of new jobs and new op­por­tu­ni­ties.

“It is not by chance that the growth rate and the rate of un­em­ploy­ment re­duc­tion go hand in hand,” he said.

In pre­vi­ous years un­em­ploy­ment in Cyprus recorded the great­est in­crease rate, to­day it records the great­est drop rate, he added.

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